DriveTime sells the vehicles it finances, creating a one-stop process.
The platform specializes in financing for consumers with various credit challenges.
A fast online approval process can be done with no initial impact to a credit score.
The financing approval is tied directly to a specific inventory of available cars.
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The Integrated Sales and Financing Model+
DriveTime operates as both the car dealership and the finance company. This vertically integrated model means the entire transaction, from vehicle selection to loan origination and final contract signing, is handled by one company. This structure is designed to simplify the purchase process for the U.S. consumer, particularly for those who may have had difficulty securing financing from traditional third-party lenders.
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Personalized Inventory Based on Financing+
A unique feature of the DriveTime model is its personalized inventory system. Once an applicant is approved online, the DriveTime website displays only the vehicles that the applicant is approved to purchase. This inventory is based on their specific, real financing terms and required down payment. This system eliminates the uncertainty of shopping for cars that may be outside a consumer’s financial approval range.
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Finalizing the Purchase at the Dealership+
After selecting a vehicle from their personalized online inventory, the consumer schedules an appointment at a physical DriveTime dealership in the U.S. At the dealership location, the customer can test drive the chosen vehicle and review their personalized financing terms with a sales advisor. The final loan contract signing and vehicle handover are then completed during this in-person visit.
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Vehicle Policies and Protections+
Vehicles sold by DriveTime in the U.S. include specific consumer protection policies. These typically include a 5-day return policy, which allows the customer to return the vehicle for a full refund of the down payment for any reason. Additionally, a 30-Day / 1,500-Mile Limited Warranty is usually included, providing a degree of protection against certain potential mechanical issues immediately following the purchase.
Top Auto Loan Options in the U.S.
- DriveTime Auto Loan – Offers soft-pull pre-approval in minutes, customized monthly payments and down payments (no one-size-fits-all), plus a 30-day/1,500-mile limited warranty and 5-day return policy.
- Capital One Auto Navigator – Allows prequalification without hurting your credit and provides real-time rates at thousands of dealerships.
- Bank of America Auto Loans – Provides fixed-rate financing and digital tools with customer perks.
- PenFed Credit Union – Delivers low APRs through its member-first Car Buying Service.
- LightStream (Truist Bank) – Offers unsecured auto loans with no restrictions on the vehicle.
- Carvana Financing – Fully online auto purchase and financing experience, with home delivery.
Traditional Bank Financing
Unlike standard banks (e.g., Wells Fargo, Chase), which rely on external loan underwriting and in-person processes, DriveTime finances directly through its dealership network using its affiliate lender, Bridgecrest. This approach allows for faster credit decisions and tailored loans—even if your credit history is limited.
DriveTime Auto Financing
Apply online and get peace of mind in under two minutes via a soft credit pull—no impact on your FICO score. Once you’ve seen estimated payments and down payment options, visit one of their 130+ lots. There, you’ll confirm your terms, provide documentation, and drive away that same day with the car you chose.
Online Calculator & Personalized Offers
Their online finance calculator lets you tweak price, down payment, and term to see accurate monthly payments in real time. As you shop, personalized financing details display on every vehicle listing, ensuring transparency and confidence.
Unsecured Personal Loans vs. DriveTime Loan
Although personal loans could cover a car purchase, they come with higher interest and shorter terms. In contrast, DriveTime loans are secured by the vehicle, feature flexible down payments, and come with optional warranties and return policies—tailored to vehicle purchasing.
Buy Here, Pay Here Dealers – DriveTime’s Approach
DriveTime is a large-scale, reputable BHPH dealer with in-house financing through Bridgecrest. They offer protections you might not get at smaller lots—like warranties, clear pricing, and return options. They do tend to have higher APRs, especially if your credit is strong, so it’s smart to compare offers if you qualify elsewhere.
How Auto Loans Impact Your Finances and Credit Score in the U.S.
DriveTime’s soft pre-approval doesn’t affect your FICO. If you accept the loan, they conduct a hard pull—though when bundled with other inquiries in a short timeframe, it registers as one. Timely payments are reported to credit bureaus, helping you build credit. But missing payments could hurt your score and raise your Debt-to-Income (DTI) ratio.
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